Australia Appoints Andrew Charlton as New Assistant Minister for Technology, Embarks on Virtual Asset Regulatory Reform
Summary
- With the appointment of Andrew Charlton, the Australian government announced plans to embark on regulatory reform for digital assets.
- The new regulatory proposal is expected to include an exemption from financial services license requirements for small businesses.
- The Australian virtual asset industry positively evaluated this appointment as a clear commitment to cooperation and policy implementation.
On the 12th (local time), according to the virtual asset (cryptocurrency) specialized media Decrypt, the Australian government appointed Andrew Charlton as the Assistant Minister for the Department of Science, Technology and Digital Economy.
This decision by the Australian government is analyzed as a response to the growing importance of regulation on digital assets within Australia. Australian Prime Minister Anthony Albanese, in announcing Charlton's appointment, stated, "Charlton possesses economic qualifications and international experience," and explained that "he will play a role in policies related to new technologies and artificial intelligence (AI)."
The Australian virtual asset industry seems to welcome this move. Caroline Bowler, CEO of the Australian virtual asset exchange BTC Markets, said, "(Regarding this appointment) it is a clear commitment to cooperation and effective policy implementation."
Australia's new virtual asset regulatory proposal aims to exempt small businesses from the requirement to obtain an Australian Financial Services License. The draft of Australia's new virtual asset regulatory proposal is expected to be announced by the end of this year.
Uk Jin
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